Lease activity for LaCenterra at Cinco Ranch has been rising with the Texas temperature this summer. Center management announces that over 11,200 square feet of retail space and almost 9,500 square feet of office space has been leased.  Additions to LaCenterra’s tenant roster include boutiques, restaurants and specialty food retailers, along with business offices. That’s nearly 20,700 square feet of additional services at LaCenterra.

New retailers include Berripop Frozen Yogurt, Fit N Fresh Gourmet, Otto’s Deluxe Grille and Paper Lane Stationery and Gifts.  Relocating business offices to LaCenterra include the Law Office of Scott P. Callahan, P.C. and Woodco Fund Management.

Berripop Frozen Yogurt has leased 1,540 square feet of center space for a new location.  Born in the great state of Texas in December 2007, Berripop offers parfaits, Hawaiian shaved ice, signature smoothies and -of course – fresh, all-natural non-fat yogurt with healthy toppings.  Guests will find the latest music videos played on flat screen televisions and free Wi-Fi in this bright, modern yogurt shop.  Berripop will open in early September in Ste. E100, also overlooking Heritage Square.

Business partners, Mike Rizutto of Sugar Land and Al Gross of Round Rock have leased just over 2,000 square feet of retail space for Fit N Fresh Gourmet.  The specialty food store will offer freshly prepared healthy meals and customized meal plans.  Katy area residents dreaming of a personal chef need look no further when Fit N Fresh Gourmet opens for business in Ste. R100 in mid-October.

Houston’s famed Otto’s Barbecue and Hamburgers will open a new concept restaurant: Otto’s Deluxe Grille.  The rustic 2,648-square-foot eatery will offer certified Angus burgers, gourmet salads and sandwiches along with comfort food favorites including chicken fried steak, real mashed potatoes, homemade cobbler and, of course, Otto’s acclaimed brisket and sausage.  The new “finer dining-comfort food” concept will also feature weekend fish and seafood specials.  The restaurant will serve their famous weekend breakfast from 7:00 a.m. – 11:00 a.m, Saturday and Sunday.  While an official date has not been announced, a late October opening is anticipated.  Otto’s Deluxe Grille will open in Ste. D100 and will offer restaurant and patio seating overlooking LaCenterra’s central courtyard, Heritage Square.

Mother and daughter-in-law duo Janice and Chris Therrien have leased 1475 square feet of retail space for Paper Lane Stationery and Gifts too! The colorful store will give residents a reason to celebrate by offering custom invitations, stationery and greeting cards from notable names including Crane & Co., William Arthur, Tickle Bellies, Bella Ink, Inviting Company, Kate Spade and Vera Wang.  They will also stock artfully designed paper products and gifts from Caspari, CR Gibson, Mudpie and Illume candles.  Planners, journals, pens and desk accessories from makers such as momAgenda, Moleskine, Retro 151 and Pierre Belvedere are other gift ideas. Paper Lane Stationery and Gifts too! is scheduled to open in Ste. D120, between Otto’s Deluxe Grille and The Wine Next Door, in late September.

The Law Office of Scott P. Callahan, P.C. has just relocated from its Galleria/Uptown location to LaCenterra.  Attorney Scott Callahan has leased over 1,200 square feet of office space in Suite B240. The Law Office of Scott P. Callahan, P.C., a personal injury trial law firm, is devoted to representing victims and their families in wrongful death and catastrophic personal injury cases.  Most recently, Mr. Callahan was instrumental in forcing a nationwide recall of the product Stand ‘N Seal from stores due to consumer deaths and severe lung injuries.  Mr. Callahan is on the Board of Directors of the Texas Trial Lawyers Association and a member of the American Association for Justice, Houston Trial Lawyers Association, and State Bar of Texas.

Woodco Fund Management, a private asset management company firm, leased just over 1630 square feet of office space.  Woodco Fund Management relocated to the Katy area from its Dairy Ashford address in Houston.  Doors have recently opened for business in Ste. B225.

LaCenterra at Cinco Ranch is located at 23501 Cinco Ranch Boulevard and Grand Parkway in Katy, Texas.  Center hours: 10:00 a.m. – 9:00 p.m. Monday – Saturday and 12:00 p.m. – 6:00 p.m. on Sundays.  Individual store hours may vary.

To tour Cinco Ranch homes or other Katy houses, contact me via this blog or phone  (713) 818-2404. You can also search the entire MLS from this site. I have sold Katy real estate for over 21 years and would greatly enjoy working with you.

Today, August 24, the National Association of Realtors issued the following  statement, “Existing home sales drop 27% in July; effects of expired homebuyer tax credit add turbulence to the market.”

Following the national trend, an anticipated property sales slowdown set into the Houston/Katy real estate market in July following the expiration of the federal homebuyer tax credit. The credit had propelled local home sales for four straight months beginning in March, however home sales suffered a double-digit decline in July. Despite the drop, the average price of a single-family home still managed to climb to a two-year high.

The southside of  I-10 had a 26% drop in sales for July compared to 2009 levels. The northside  of I-10 experienced a 42% drop in July closings.  As many first time homebuyers purchased on the northside, this is reflected in the slowing sales. Despite the downturn, average prices rose slightly on both sides of I-10.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), July sales of single-family homes throughout the Houston market fell 25.1 percent compared to July 2009. Sales volume faltered in all single-family home pricing segments except among properties under $80,000, which were flat. Sales of all property types combined slid 24.4 percent in July on a year-over-year basis.

The average price of a single-family home rose 2.7 percent from July 2009 to $224,764, the highest price since June 2008. The July single-family home median price—the figure at which half of the homes sold for more and half sold for less—dipped 0.7 percent from one year earlier to $160,880, but still recorded its highest level since July 2009.

Foreclosure property sales reported in the Multiple Listing Service (MLS) tumbled 13.5 percent in July compared to one year earlier. The median price of July foreclosure sales declined 6.1 percent to $84,000 on a year-over-year basis.

Sales of all property types in Houston for July totaled 5,056, down 24.4 percent compared to July 2009. Total dollar volume for properties sold during the month was $1.0 billion versus $1.4 billion one year earlier, representing a 23.9 percent drop.

“Homebuying came earlier and at a heftier pace than we would normally have seen in Houston during the spring and summer months because of the tax credit, but indicators showed that sales would decline once the credit expired, so this comes as no surprise,” said Margie Dorrance, HAR chair and principal at Keller Williams Realty Metropolitan. “It is encouraging that pricing has remained strong and that on a year-to-date basis home sales are actually slightly ahead of 2009 levels.”

Houston and surrounding areas month-end pending sales for July totaled 3,267, down 16.4 percent from last year, suggesting that sales will be down again in August. The months inventory of single-family homes for June extended to 7.7 months compared to 6.5 months one year earlier, but remains healthier than the national months inventory of single-family homes of 8.9 months, reported by the National Association of REALTORSâ (NAR).

I received the following letter from LaCenterra in Cinco Ranch:

“We’re currently working on an in-depth market research project that will help us answer the question, “What is best for LaCenterra’s Phase II?” More importantly, it will help us determine what residents want and what the greater Katy area needs.

Please let us know what you think by taking our survey. Your input will help guide us in the pursuit of additional retail, restaurant and entertainment components for Phase II. It will also give us hard data to present to national retailers to let them know that Katy is ready to support an entrance into the market.”

Saturday, August 21, 2 to 4 p.m. at 23211 Fallmist Court: Fantastic location in beloved Greenway Village. Lowest priced 4/3.5/3 in Cinco Ranch! Greenbelt culdesac location! Open back gate to 10 acres of contiguous play area including school playground, gazebo park, greenbelt! Walk to school, pool, park out front door OR back! Recent roof, double pane windows, covered back patio, garden deck area, wood laminate floors, study w/French doors & private access to master! All Cinco amenities, low tax rate, highly acclaimed exemplary Fielder El/Cinco HS! $244,000.

Sunday, August 22, 12:30 to 3:30 at 23203 Winding Knoll Drive: Charming traditional in tranquil parklike setting on quiet culdesac street in beloved Greenway Village Cinco Ranch. Walk to school/pool/park, nature trails, lakes! 2nd BR down option w/full bath, 20 inch porcelain tile floors all wet areas! H2O htr, roof, upstairs HVAC all replaced! New fence 06/10! Stunning 2 story brick FP & 18 ft ceiling in gorgeous den, usable 3-car detached gar! Peaceful private backyard w/small pond, flagstone, garden. Low tax rate & zoned to triple exemplary school track! $219,000.

The 18^th Annual Katy Triathlon at Firethorne, the third largest co-ed triathlon in Texas, will be held Sunday, October 24, 7:30 a.m. – 11 a.m., in and around the 1,400-acre Firethorne residential community.  The USA Triathlon-sanctioned race, sponsored by the Rotary Club of Katy, encompasses a 16-mile bike race, a three-mile run and a 500-meter swim in Lake Firethorne.

“Firethorne is a great partner on this event and we’re thrilled to be back,” said Rotary Club of Katy Treasurer Vicki Rao.  “We really enjoy the residents — they’re phenomenal people.  Their response was so incredible last year, especially those who live near Race Central (the Visitor Center).”

The 2010 race hopes to draw 1,000 participants — 900+ individual athletes, plus those on relay teams.

The cycling route will include sections of FM 1463 and US Hwy. 90, within the Katy city limits. Firethorne is located on FM 1463, near the crossroads of the I-10 West corridor, Westpark Tollway and Grand Parkway.

“Firethorne’s 12-acre lake amenity and proximity to wide spaces of rural areas is conducive to having a successful triathlon,” said veteran Race Director Dave Rainey.

The registration fee is $55 per person and $75 per relay team through September 1.  Registration continues through October 20.  The complete fee structure and deadlines are posted on the new website, www.katytriathlon.com.

The Rotary Club of Katy, race sponsor, donates event proceeds to the Katy Rotary Fund, which supports local charities for their work in providing essential health, recreation and educational services to children in Katy ISD.  In May, the Rotary Fund awarded $21,000 in scholarships, $1,500 each to 14 graduating seniors from the district’s six high schools. Cinco Ranch High School FBLA, Rotary Interact Club and Boy Scouts provide have provided volunteer support for the race. Race sponsorships, underwriters and in-kind underwriters are available.  For information, call 281-391-3655.

When buyers purchase a home, they receive the full benefit of homeownership via a cash down payment that is only a fraction of the total purchase price.  This is called “leveraging”. It makes the rate of return on a home purchase greater than on other purchases with the same value, such as stocks, where the buyer must put up the entire money.

For most Americans, their home is a primary source of net worth; this is an important step in accumulating personal financial assets over the long term. Home equity represents the largest share of net worth for many families. Americans currently have a total of more than $6 trillion in equity in their homes.

Although there are many positive financial aspects to being a home owner, a house cannot be valued in monetary terms alone. A home provides sanctuary and a sense of belonging to a community as evidenced in many Katy neighborhoods. This usually leads to great personal satisfaction.

Academic research shows that owning a home provides a wide range of social benefits. It strengthens the nation’s people and its communities. It is a cornerstone of the American way of life. Katy residential real estate supports this finding.

For a Realtor with 21 years experience selling Katy real estate, contact me via this blogsite or phone me at 713-818-2404. I work with both sellers and buyers to create a win/win atmosphere and a successful, profitable outcome.

Home ownership is an important and defining part of the Katy lifestyle. Now that the tax credits for first-time and repeat homebuyers have expired, many people are wondering if this is a good time to buy a Katy home. The answer is yes!

Even without the tax credits, there are many opportunitites in today’s Katy housing market including affordable prices and low mortgage rates. Market conditions may change and these opportunities may not be around for long, so homebuyers shouldn’t wait.

Plentiful Katy real estate inventory provides a great choice of homes in all prices, styles, locations and ages, including new construction. Many existing home owners who postponed trading up, downsizing or relocating due to market conditions are now ready to sell. Houses in Katy, both south and north of I-10, go on the market daily with many of these being more affordable than they were in the recent past. Foreclosures still exist, too.

Like Katy inventory and pricing, mortgage rates are at very favorable levels; some weeks mortgage rates still break records for their level lows. However, it is very important to know that mortgage ratges are extremely sensitive to market forces and can change very quickly. While nothing indicates that rates will soar in the near future, even a slight increase can push monthly payments up to the point where Katy homebuyers might miss out on their first choice for a new home. 

Lenders are scrutinizing borrowers more today than anytime in the past. To ensure that the process goes smoothly, buyers must be prequalified for a loan before they make an offer on a home; otherwise, it won’t be considered by the seller. For a refferal to a great Katy mortgage lender, one who can make it happen for you, contact me.

For a Realtor with 21 years experience selling Katy real estate, contact me via this blogsite or phone me at 713-818-2404. I work with both sellers and buyers to create a win/win atmosphere and a successful, profitable outcome.

Closings of properties purchased through the federal homebuyer tax credit combined with the seasonal spring-summer uptick in consumer activity kept Houston-area single-family home sales in positive territory for a fourth straight month in June. However, expiration of the homebuyer tax credit slowed the brisk pace of sales volume that the market enjoyed in recent months.

Congress extended the time necessary to close on homes purchased with the tax credit by three months to September 30, provided the property was under contract by April 30. The May and June decline in pending sales—property listings that are expected to close within the next 30 to 60 days—was expected, as homebuyers rushed to take advantage of the tax credit and is considered an indicator that sales volume will slow in July.

According to the latest monthly data compiled by the Houston Association of Realtors® (HAR), June sales of single-family homes throughout the Houston market rose 2.9 percent compared to June 2009. That follows increases of 11.3 percent in March, 27.8 percent in April and 18.2 percent in May. Sales volume showed gains in all single-family home pricing segments except the $150,000 to $250,000 market. The largest increase took place among homes priced from $500,000 and above. Sales of all property types combined climbed 4.1 percent in June on a year-over-year basis.

The average price of a single-family home edged up 0.9 percent from June 2009 to $222,767, the highest price since July 2008. The June single-family home median price—the figure at which half of the homes sold for more and half sold for less—dipped 2.9 percent from one year earlier to $159,700, but still reached the highest level since August 2009.

Foreclosure property sales reported in the Multiple Listing Service (MLS) rose 9.3 percent in June compared to one year earlier. The median price of June foreclosure sales increased 2.4 percent to $88,000 on a year-over-year basis.

Sales of all property types in Houston for June totaled 6,593, up 4.1 percent compared to June 2009. Total dollar volume for properties sold during the month was $1.4 billion versus $1.3 billion one year earlier, representing a 4.9 percent increase.

“The Houston real estate market has benefited all that it can from the homebuyer tax credit and now comes the return of sales trends that are more typical for this time of year,” said Margie Dorrance, HAR chair and principal at Keller Williams Realty Metropolitan. “Heavy sales activity in the high end of the housing market boosted the average price in June, but growing inventory, an increase in months inventory and a slowdown in listings under contract point to a more flattened market in the coming months.”

The month of June brought Houston’s overall housing market largely positive results when all listing categories are compared to June of 2009. Total property sales and total dollar volume increased on a year-over-year basis while the average single-family home sales price ticked up and the median price declined.

The number of available properties, or active listings, at the end of June rose 17.3 percent from June 2009 to 53,934. That represents 2,749 more active listings than one month earlier, in June 2010, and reflects additional housing inventory that began hitting the market as a result of interest in the homebuyer tax credit as well as general confidence in improved market conditions.

Month-end pending sales for June totaled 3,272, down 16.0 percent from last year. This is a likely indicator that the effects of the tax credit have worn off. The months inventory of single-family homes for June extended to 7.3 months compared to 6.4 months one year earlier, but remains healthier than the national months inventory of single-family homes of 8.3 months, reported by the National Association of REALTORS® (NAR).

By: G. M. Filisko, Guest Author

After finding a buyer, all you have to do to make it to closing is to avoid these five traps.

Finding a buyer for your home is just the first step on the home selling path. Tread carefully in the weeks ahead because if you make one of these common seller mistakes, your deal may not close.

Mistake #1: Ignore contingencies

If your contract requires you to do something before the sale, do it. If the buyers make the sale contingent on certain repairs, don’t do cheap patch-jobs and expect the buyers not to notice the fixes weren’t done properly.

Mistake #2: Don’t bother to fix things that break

The last thing any seller needs is for the buyers to notice on the pre-closing walk-through that the home isn’t in the same condition as when they made their offer. When things fall apart in a home about to be purchased, sellers must make the repairs. If the furnace fails, get a professional to fix it, and inform the buyers that the work was done. When you fail to maintain the home, the buyers may lose confidence in your integrity and the condition of the home and back out of the sale.

Mistake #3: Get lax about deadlines

Treat deadlines as sacrosanct. If you have three days to accept or reject the home inspection, make your decision within three days. If you’re selling, move out a few days early, so you can turn over the keys at closing.

Mistake #4: Refuse to negotiate any further

Once you’ve negotiated a price, it’s natural to calculate how much you’ll walk away with from the closing table. However, problems uncovered during inspections will have to be fixed. The appraisal may come in at a price below what the buyers offered to pay. Be prepared to negotiate with the buyers over these bottom-line-influencing issues.

Mistake #5: Hide liens from buyers

Did you neglect to mention that Uncle Sam has placed a tax lien on your home or you owe six months of homeowners association fees? The title search is going to turn up any liens filed on your house. To sell your house, you have to pay off the lien (or get the borrower to agree to pay it off). If you can do that with the sales proceeds, great. If not, the sale isn’t going to close.

Guest Author: G.M. Filisko is an attorney and award-winning writer who wanted a successful closing on a Wisconsin property so bad that she probably made her agent rethink going into real estate. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics in Wisconsin.

For a Realtor with 21 years experience in keeping sales together, contact me via this blogsite or phone me at 713-818-2404. I work with both sellers and buyers to create a win/win atmosphere and a happy outcome.

2030 Crystal Downs in Cinco Ranch North Lake Village, Saturday, July 24, 2-4. $390,000. Very tastefully updated with new paint inside and outside. Granite counter top, Jennaire cook top, stainless steel kitchen sink, kitchen faucet. Wood flooring in living room, dining room and family room. The house has rich marble in entry. Two story foyer, plus carpet and other amenities suitable for Cinco Ranch Golf Course community life style. Five bedrooms, large library and game room.

Directions: I-10 West. Exit Mason Rd. Left on Mason. Right on Highland Knolls. Left on S. Peek. Left on North Lake Village. Right on Tryburn Trail. Left on t-junction onto Crystal Downs. House on left.

Pictures below of beautiful 2030 Crystal Downs in Cinco Ranch North Lake Village:

3226 Markstone Court in Cinco Ranch Town Center, Sunday, July 25, 2-4. $215,000. Beautiful on a quiet culdesac with huge pie-shaped lot in the heart of Cinco Ranch. Walk to everything including Beach Club, Lakes, Tennis, Fishing, Park, YMCA and exemplary Williams Elementary! Recent flooring and fixtures. Low tax rate. Save energy $ with double pane windows. A++ curb appeal, elegant two-story appeal with popular diagonal tile entry, recent paint and updates. One of the best houses currently on the market for premium lot, location, amenities and triple exemplary school track.

Directions: I-10 Katy Freeway, south on 99 Grand Parkway, exit and left on Cinco Ranch Blvd., right on Peek, right on Centerton, at stop sign turn left and go to the end of the culdesac.

Enjoy the photos below of gorgeous 3226 Markstone Court:

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